Bioflamex Corp. (OTC: BFLX)
, a developer, producer and marketer of proprietary clean tech and advanced high performance fire prevention and fighting products and systems, is focusing on the Asian market.
On Monday, BFLX announced that it entered into the final stages of negotiations with a potential agent for China, India and Pakistan. BFLX sees China, India and Pakistan as significant growth markets, especially for its aerosol extinguishers.
BFLX’s management has invested time and energy in recognizing a suitable agent for the three countries. The company plans to reach sales of around $10 million in the three markets by the end of 2014.
Bioflamex believes that its aerosol extinguishers, for first response against kitchen fires, have tremendous potential in the three markets, considering the nature of cooking traditions in these countries.
BFLX believes that having a strong partnership is key to success in the three markets and the current negotiations represent a significant step to achieve its objectives for the region.
Bioflamex is also evaluating the Indonesian and Malaysian markets. On Tuesday, BFLX said that it has planned meetings in Malaysia to conclude negotiations with a general agent prospect covering Malaysia and Indonesia.
Kristian Schiorring, CEO of Bioflamex, said that it has been a constructive process and BFLX feels comfortable that it will now get an agreement in place for the two markets. Schiorring said that the markets are significant as they count a combined population of approximately 260 million individuals and if all goes according to plan, the same agent may also represent the company in Thailand and Vietnam in 2013/2014. Schiorring said that its agreement will create a foothold to markets, which may prove even larger than the European Union over time.
For Indonesia and Malaysia, BFLX expects sales of around 1,000,000 units by the end of 2014.